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Power Sector Retirement Trust (PSRT)

Managed by Members for Members.

Why PSRT?

Learn more about how and why we started the Trust »

The PSRT Difference

First and foremost, PSRT was created by and for Members.

The trust exists as a benefit to you—not to increase the wealth of the shareholders of banks or corporations. PSRT is not looking to profit from Members. Our sole purpose is to provide security and a higher quality of life for workers and their families in retirement.

Registered Retirement Savings Plans (RRSP)

A Registered Retirement Savings Plan (RRSP) is a government-approved program that allows you to save a portion of your income without paying tax.

You can realize the full potential of your long-term investments in your RRSP with sound investment advice from the team of Financial Advisors put in place by the Trustees of the PSRT to help you with your Financial Plan.

Tax-free Savings Account

A Tax-Free Savings Account (TFSA) is a registered account that allows for investments to accumulate earnings with absolutely no tax on the gains.

Funds contributed to a TFSA are paid with after-tax income, and no tax is payable upon withdrawal of money from a TFSA. For these reasons, TFSAs can be an excellent option for medium-term savings goals.

Spouse Accounts and Spousal RRSPs

If you have a spouse, you can use a spousal registered retirement savings plan as an investment account to complement your and your spouse's (or partner's) retirement.

Also, we are delighted to share that in addition to a Member's account and any spousal RSP at PSRT, a Member's spouse may also hold their RRSP accounts at PSRT.

Non-Registered Accounts

When a Member is not eligible/no longer able to contribute to an RRSP and has maximized their contribution room in the TFSA, PSRT offers Members the option to open a non-registered account.

Non-registered accounts can hold similar investment vehicles as RRSP and TFSA accounts but do not provide for any of the tax benefits of those accounts.

Financial Literacy Hub

Courses Available to Members

Are you interested in retiring sooner? Learning how to save on monthly interest? Or finding out more about the actual cost of withdrawing money from your RRSP? What about the difference between stocks and bonds? Or why you should keep your accounts with PSRT?

We are delighted to provide courses to Members that include learning more about the PSRT Difference, financial and investing literacy, and details on what to do if your tax provider believes you've over-contributed to your RRSP.

Frequently Asked Questions

When you are working, your Total Wage Package includes contributions to the PSRT Group RSP.

With input from the Carrier and our Financial Advisor, the Trustees have designed a series of investment portfolios to help you make optimal investment choices for your current situation and risk tolerance.

For a full description of each, including broad differences, visit this link.

Not necessarily! Because you are part of a qualifying Group RSP and are required to contribute a set amount each year, you are not subject to penalties on over-contributions—as long as they are used in the following year. For details on how to handle this situation, ask your tax preparer to review this document.

If required it may me possible for PSRT to prepare a letter regarding the details of a Member's over-contribution details. The Member may then forward this letter to the CRA. Contact the office for more information.

Also, the Trustees have put together a course to help Members better understand the details on Group RSP contributions. Click here to access the course (use your PSRT username and password to log in).

Yes, absolutely. The Trustees have engaged a team of Financial Planners to provide independent Financial Advice to the members at no cost or obligation to the member.

The paths to creating wealth, financial success, and comfort during retirement start with a financial plan. The Trustees want to help every member develop a plan, monitor it regularly (to review progress), and see it through to fulfilment.

Click here to contact our Financial Consultant.

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PSRT: Safe and Secure Investment Options

PSRT offers a wide range of investment accounts to Members and their spouses.
Are you taking full advantage of every account option available to you?

Registered Retirement Savings Plans (RRSP)

Spouse Accounts and Spousal RRSPs

Tax-free Savings Account

Non-registered Accounts